National Capital Freenet													
Statement of Revenue, Expenses, and Surplus													
Period ended as stated		

						Actuals	Budget	Actuals	Budget
						Jul-97	Jul-97	YTD1997	YTD1997
Revenue													
	Donations from members (note#1)												
		Associated with registration	$4,105 	$6,000 	$32,504 $42,000 
		Associated with renewals	$5,549 	$3,000 	$161,047$174,250 
			Total member donations	$9,655 	$9,000 	$193,551$216,250 
													
	Fundraising Activities												
		Line Sponsorships		$700 	$1,600 	$2,450 	$11,200 
		Corporate donations		$100 	$0 	$501 	$0 
		Auctions			$0 	$0 	$866 	$0 
		Sale of promotional items 	$25 	$0 	$643 	$0 
		Other activities		$0 	$0 	$0 	$0 
			Total fundraising	$825 	$1,600 	$4,460 	$11,200 
													
	Government grants 			$0 	$0 	$0 	$0 
	Other revenues				$0 	$0 	$0 	$0 
	Deferred contributions			$0 	$0 	$14,462 $15,918 
		Total revenue			$10,480 $10,600 $212,473$243,368 
													
													
Expenses													
	System access telecommunications	$6,309 	$5,819 	$41,872 $40,731 
	System administration (note #2)		$3,736 	$5,349 	$24,189 $37,446 
	Office staff and supplies		$3,377 	$2,878 	$23,030 $20,143 
	Volunteer Coordination			$0 	$50 	$230 	$350 
	Administration and professional fees	$4,984 	$5,805 	$44,218 $40,635 
	Fundraising and promotional costs	$0 	$0 	$4 	$0 
	Public events and access		$0 	$0 	$480 	$0 
	Costs of Grants				$0 	$0 	$0 	$0 
	Depreciation				$0 	$0 	$34,492	$36,501 
		Total expenses			$18,407 $19,901 $168,514$175,805 
													
Excess of revenue over expenses			(7,927)	(9,301)	$43,959	$67,563 
	Surplus, beginning of period		$125,517$133,044$73,631	$56,180 
													
Surplus, end of period				$117,590$123,743$117,590$123,743 
													
	Notes:												
		#1 Year to Date donations are lower than expected as actual 
		receipts dropped off in May as opposed to June as Budgeted										
		#2 Systems budget allowed for additional systems upgrading.  
		These contracts have not been let.										
													
													
													
National Capital Freenet													
Balance Sheet													
For the period ended as stated	

								Actuals	Budget
								Jul-97	Jul-97
Assets													
	Cash (note #3)						$89,909	$78,325 
	Other current assets					$672 	$980 
								$90,581 $79,305 
	Capital equipment												
		Computer equipment				$123,517$122,780 
		Systems software				$43,784	$43,784 
		Telecommunications equipment			$112,976$117,508 
		Business equipment				$8,097 	$11,833 
								$288,374$295,905 
		Less accumulated depreciation			$199,620$202,870 
								$88,754 $93,035 
													
	Total assets						$179,335$172,340 
													
													
													
Liabilities and Surplus													
	Accounts payable and accrued liabilities (note #4)	$21,185 $10,417 
													
	Deferred contributions, net of amortization		$40,560 $38,180 
													
	Surplus							$117,590$123,743 
													
	Total liabilities and surplus				$179,335$172,340 
													
	Notes:												
		#3 Cash exceeds Budget due to Actual opening balance as of 
		Jan/97 being higher than Budget as well as certain invoices
		being accrued for have not yet been received (see note #5)										
		#4 Account Payable are higher than expected as the ONET fee 
		invoice has not yet been received.										
		Payables include: 										
		   ONET Fee, Carleton University	$16,812 								
		   Audit Fee, KPMG			$2,100 								
		   Office lines, Carleton University	$2,310 								
		
											
													
National Capital Freenet													
Statement of Changes in Financial Position													
For the period ended as stated		

						Actuals	Budget	Actuals	Budget
						Jul-97	Jul-97	YTD1997	YTD1997
Operating activities													
	Excess of revenue over expenses		(7,927)	(9,301)	$43,959 $67,563 
	Items not involving cash:										
		Deferred contributions		$0 	$0 	(14,462)(15,918)
		Depreciation			$0 	$0 	$34,492 $36,501 
													
	Net change in non-cash working capital items												
		Acc Rec & Prepaid Expenses	$84 	$130 	(420)	(932)
		Acc Pay & accrued liabilities	$2,491 	2,199 	$9,536 	(3,781)
		Cash provided by operations	(5,352)	(6,972)	$73,105 $83,432 
													
Investing activities													
	Purchase of equipment for cash		$0 	$0 	$1,564 	$9,800 
		Cash applied to investing 	$0 	$0 	$1,564 	$9,800 
													
Increase in cash during the period		(5,352)	(6,972)	$71,541	$73,632 
Cash, beginning of period			$95,261 $85,297 $18,368	$4,693 
													
Cash, end of period				$89,909	$78,325 $89,909 $78,325